Royal Bank of Canada Trims DoubleVerify (NYSE:DV) Target Price to $40.00

DoubleVerify (NYSE:DV) had its price objective decreased by Royal Bank of Canada from $49.00 to $40.00 in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other brokerages also recently commented on DV. TheStreet raised shares of DoubleVerify from a d+ rating to a c- rating in a report on Thursday, February 29th. KeyCorp downgraded DoubleVerify from an overweight rating to a sector weight rating in a research report on Wednesday. Truist Financial dropped their price target on DoubleVerify from $39.00 to $32.00 and set a buy rating for the company in a report on Wednesday. Wells Fargo & Company decreased their price objective on DoubleVerify from $44.00 to $41.00 and set an overweight rating on the stock in a report on Friday, March 1st. Finally, Piper Sandler lowered their price objective on DoubleVerify from $40.00 to $30.00 and set an overweight rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $35.05.

DoubleVerify Price Performance

NYSE DV traded up $0.06 during trading on Wednesday, reaching $18.84. 7,987,461 shares of the company’s stock were exchanged, compared to its average volume of 2,103,979. DoubleVerify has a fifty-two week low of $17.74 and a fifty-two week high of $43.00. The stock has a market capitalization of $3.24 billion, a P/E ratio of 45.39, a PEG ratio of 3.24 and a beta of 1.11. The business has a 50 day moving average price of $31.65 and a 200-day moving average price of $34.25.

DoubleVerify (NYSE:DV) last posted its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. The business had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. During the same period in the previous year, the firm earned $0.07 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, analysts forecast that DoubleVerify will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.30, for a total value of $27,270.00. Following the sale, the insider now directly owns 137,668 shares of the company’s stock, valued at approximately $4,171,340.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total value of $27,270.00. Following the completion of the sale, the insider now directly owns 137,668 shares in the company, valued at approximately $4,171,340.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $30.86, for a total value of $163,311.12. Following the completion of the transaction, the chief financial officer now owns 73,030 shares in the company, valued at approximately $2,253,705.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,431 shares of company stock valued at $3,070,904. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DV. Motley Fool Asset Management LLC purchased a new stake in DoubleVerify in the 4th quarter valued at about $962,000. Envestnet Asset Management Inc. boosted its position in DoubleVerify by 40.2% in the third quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock worth $5,388,000 after purchasing an additional 55,322 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in DoubleVerify by 135.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 58,160 shares of the company’s stock valued at $1,625,000 after purchasing an additional 33,499 shares during the period. California Public Employees Retirement System boosted its holdings in shares of DoubleVerify by 24.7% in the 4th quarter. California Public Employees Retirement System now owns 222,351 shares of the company’s stock worth $8,178,000 after buying an additional 44,106 shares during the last quarter. Finally, Moody National Bank Trust Division bought a new position in DoubleVerify during the fourth quarter valued at about $1,590,000. 97.29% of the stock is owned by institutional investors.

DoubleVerify Company Profile

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.